People do not remember passwords. This imposes a cost on secure business transactions of all kinds, both by inhibiting them and by leading to low customer satisfaction. No simple, secure verification capability that does not require a remembered password exists for interactions in non-voice channels, such as text or other types of channels.
One prior art method of providing verification requires the use of a pin number or similar remembered sequence. These are difficult to remember, and relatively easy to crack because the length of such pin numbers tends to be limited due to the user's memory constraints.